US deemed world's most powerful – but not best – country

The United States was deemed to be the most powerful country in the world in an annual ranking of countries released Wednesday by U.S. News and World Report, but that doesn't make it the best. 

According to the rankings, Switzerland once again was named the world's best country, marking its fourth year in a row atop the rankings. The rankings factor a country's quality of life, open for business, power, heritage, social purpose and cultural influence, among other factors. The ranking placed the U.S. as the No. 5 country in the world. The United States previously ranked No. 4 in the world. 

Eighty-seven countries were considered in the annual rankings. Marketing and communications services company WPP and the Wharton School of the University of Pennsylvania joined U.S. News in the evaluation. 

“Nations are brands in and of themselves just like products, and the brand perception of a country affects its economy,” David Reibstein, professor of marketing at the Wharton School, said in a press release. “This report is a snapshot for nations on how they are perceived and what to work on to bolster foreign direct investment, foreign trade, and tourism.”

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Switzerland also ranked No. 1 for being "open for business." 

The U.S. ranked No. 1 as the world's most powerful country, as well as being the most entrepreneurial. While the U.S. scored highly in these marks, it received relatively low marks for being open for business. 

The rankings suggested that Middle Eastern nations, such as the United Arab Emirates, Qatar and Egypt, are quickly climbing the rankings. 

Here is the top 10:

1) Switzerland

2) Canada

3) Sweden

4) Australia

5) United States

6) Japan

7) Germany

8) New Zealand

9) United Kingdom

10) Netherlands

The full rankings are available on U.S. News and World Report's website.